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Flex vs Plexus: revenue, profit, margins and growth compared

Flex brought in $27.9B of revenue in fiscal 2026, Plexus $4B in fiscal 2025. Revenue changed by +8.1% at Flex and +1.8% at Plexus on the year before, so Flex grew faster. Flex kept 3.2% of its revenue as net profit, Plexus 4.3%. Free cash flow was $1.1B at Flex and $154M at Plexus.

Side by side, latest fiscal year

FLEXPLXS
Fiscal year endedFY2026 (March 31, 2026)FY2025 (September 27, 2025)
Revenue$27.9B$4B
Revenue growth+8.1%+1.8%
Net income$880M$172.9M
Net margin3.2%4.3%
Free cash flow$1.1B$154M
Free cash flow margin3.8%3.8%
Earnings per share (diluted)$2.33$6.26
Cash$2.4B$306.5M
Debt$3.8Bn/a
Price to earnings49.242.0
Market value$42.4B$7B
Dividend yieldn/an/a
Rank by revenue in sector#27 of 530 · Technology#106 of 530 · Technology

Over the years

Revenue
FLEX FY2019: $26.2BFLEX FY2020: $24.2BFLEX FY2021: $24.1BFLEX FY2022: $24.6BFLEX FY2023: $28.5BFLEX FY2024: $26.4BFLEX FY2025: $25.8BFLEX FY2026: $27.9BPLXS FY2018: $2.9BPLXS FY2019: $3.3BPLXS FY2020: $3.5BPLXS FY2021: $3.5BPLXS FY2022: $3.9BPLXS FY2023: $4.2BPLXS FY2024: $4BPLXS FY2025: $4BFY18FY19FY20FY21FY22FY23FY24FY25FY26
FLEX $27.9BPLXS $4B
Net income
FLEX FY2019: $93MFLEX FY2020: $88MFLEX FY2021: $613MFLEX FY2022: $936MFLEX FY2023: $793MFLEX FY2024: $1BFLEX FY2025: $838MFLEX FY2026: $880MPLXS FY2018: $13MPLXS FY2019: $108.6MPLXS FY2020: $117.5MPLXS FY2021: $138.9MPLXS FY2022: $138.2MPLXS FY2023: $139.1MPLXS FY2024: $111.8MPLXS FY2025: $172.9MFY18FY19FY20FY21FY22FY23FY24FY25FY26
FLEX $880MPLXS $172.9M
Net margin
FLEX FY2019: 0.4%FLEX FY2020: 0.4%FLEX FY2021: 2.5%FLEX FY2022: 3.8%FLEX FY2023: 2.8%FLEX FY2024: 3.8%FLEX FY2025: 3.2%FLEX FY2026: 3.2%PLXS FY2018: 0.5%PLXS FY2019: 3.3%PLXS FY2020: 3.4%PLXS FY2021: 4.0%PLXS FY2022: 3.5%PLXS FY2023: 3.3%PLXS FY2024: 2.8%PLXS FY2025: 4.3%FY18FY19FY20FY21FY22FY23FY24FY25FY26
FLEX 3.2%PLXS 4.3%
Revenue growth
FLEX FY2020: -7.6%FLEX FY2021: -0.4%FLEX FY2022: +2.1%FLEX FY2023: +15.7%FLEX FY2024: -7.3%FLEX FY2025: -2.3%FLEX FY2026: +8.1%PLXS FY2019: +14.7%PLXS FY2020: +6.2%PLXS FY2021: -0.6%PLXS FY2022: +12.8%PLXS FY2023: +7.2%PLXS FY2024: -5.9%PLXS FY2025: +1.8%FY19FY20FY21FY22FY23FY24FY25FY26
FLEX +8.1%PLXS +1.8%
Free cash flow
FLEX FY2019: -$3.7BFLEX FY2020: -$2BFLEX FY2021: -$207MFLEX FY2022: $581MFLEX FY2023: $315MFLEX FY2024: $796MFLEX FY2025: $1.1BFLEX FY2026: $1.1BPLXS FY2018: $4.1MPLXS FY2019: $24.7MPLXS FY2020: $160.3MPLXS FY2021: $85.5MPLXS FY2022: -$127.9MPLXS FY2023: $61.8MPLXS FY2024: $341.3MPLXS FY2025: $154MFY18FY19FY20FY21FY22FY23FY24FY25FY26
FLEX $1.1BPLXS $154M

Fiscal years as each company reports them; the two may end in different months.

Questions about Flex and Plexus

Which is bigger by revenue, Flex or Plexus?

Flex is bigger by revenue: $27.9B in fiscal 2026, against $4B for Plexus in fiscal 2025.

Which keeps more of its revenue as profit, Flex or Plexus?

Flex had a net margin of 3.2% in fiscal 2026; Plexus had 4.3% in fiscal 2025.

Which grew revenue faster, Flex or Plexus?

In their latest fiscal years revenue changed by +8.1% at Flex and +1.8% at Plexus.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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